DIC Asset AG secures ‘Infinity Office’ in Düsseldorf, thereby maintaining its Growth Trajectory

Press Release

DIC Asset AG secures “Infinity Office” in Düsseldorf, thereby maintaining its Growth Trajectory

Frankfurt am Main, 31. August 2018. DIC Asset AG, one of Germany’s leading listed property companies, just signed a contract to secure the new-build construction project “Infinity Offices” in Düsseldorf for its proprietary portfolio within the framework of a forward deal in a volume of EUR 153 million.

The property represents an office complex under construction in the city’s prestigious Kennedydamm office submarket halfway between the inner city and the airport. The modern development with its state-of-the-art fit-out standard will have a lettable area of 20,500 sqm, and is already pre-let to 85% at this time on a WALT of 12.6 years. The main tenant is Bankhaus Lampe KG. The project completion is scheduled for year-end 2019. The builder, Becken Development GmbH, is a property developer active across Germany. The transaction was facilitated by Savills.

“Securing this modern property in Düsseldorf – where it occupies a location of major infrastructural and economic significance, is raised by a well-established property developer and is let to auspicious tenants – marks the next milestone in our growth strategy,” said Sonja Wärntges, CEO of DIC Asset AG.

For more details on DIC Asset AG, go to the internet at www.dic-asset.de.

About DIC Asset AG:
DIC Asset AG is one of Germany’s leading listed property companies, and specialises in commercial real estate. With around 20 years of experience on the German real estate market, the company maintains a regional footprint on all major German markets through six branch offices, and has around 185 assets with a combined market value of c. EUR 5.0 billion under management. DIC uses a hybrid business model to manage its business divisions Commercial Portfolio, Funds and Other Investments. Taking an active asset management approach, DIC employs its proprietary, integrated real estate management platform to raise capital appreciation potential in its business divisions and to boost its revenues.

In its Commercial Portfolio division (EUR 1.6 billion in assets under management), DIC acts as proprietor and property asset holder, and thus generates revenues both from the management of the assets and through the value optimisation of its own real estate portfolio. The Funds division (EUR 1.8 billion in assets under management) generates its revenues by acting as issuer and manager of special real estate funds for institutional investors. Gathered in the business unit Other Investments (EUR 1.6 billion in assets under management) are strategic financial investments, the management of properties in which the company holds no equity stakes, equity investments in property developments and joint venture investments. DIC Asset AG has been included in the SDAX(R) segment of the Frankfurt Stock Exchange since June 2006. The Company’s shares are also included in the EPRA index, which tracks the performance of the most important European real estate companies.